In the face of danger, the Baltic countries unite their defence industries

At a meeting in Riga on Monday, the economy ministers of the Baltic countries agreed that a strong investment environment benefits all three nations.

The key areas of this agreement include strategic investments, cooperation in security and the defence industry, reducing bureaucracy, and promoting high-tech and startup sectors.

In order to attract more foreign direct investment to the Baltic region as a unified market, it's essential to identify and promote competitive sectors common to all three countries, such as defence, digital innovation, green energy, and logistics.

This also means focusing on the region’s integrated infrastructure, its skilled workforce, and its strategic location as a link between Northern and Eastern Europe.

The ministers emphasised the importance of a swift response and agility in taking decisive measures in today’s complex geopolitical situation.

Estonia’s Minister of Economic Affairs and Industry, Erkki Keldo, highlighted the need to focus on developing the defence industry and implementing investments rapidly.

"The development of the defence industry and rapid growth of the sector is a common priority for us, both in terms of regional security and increasing competitiveness. While the three Baltic States may have a friendly rivalry, as small nations it's crucial for us to stand together and collaborate closely. In the field of defence, we're determined to do everything in our power to deter any threat from the East, and our defence industry enterprises therefore serve the interests of all three Baltic States."

(MH with FM - Source: Agency - Photo: © Unsplash)